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Bitcoin Swings Down to Support
Created on: 1/21/2022 5:43:47 PM

bitcoin-swings-down-to-supportCome on! Seriously do you think a 400% rally for Bitcoin was going to be given to the public easily. Without any pain! Come on muppets!

The uniformed (public) buy when price is rising or breaking new highs, the informed buy when price is falling or breaking lows.

The informed have to do it this way as they are large volume players and the only way they can buy large volume is to create chaos. The chaos brings to the market the weak holders and a forced sell. Price is moved to where the volume can be accumulated, in a bull trend that is down to critical support.

Of course if price is in a true bull market the 'chaos' created should not break critical long term trend signals, the short and intermediate term signals are fair game. The next few weeks will confirm or deny the large players position on the trend of this market, bull or bear. Time will tell. 

It is very typical that these price support tests are around option expiration (Jan 21/28) and FED FOMC decisions (Jan 26), just enough chaos to get the desired response from policy makers. 


Chart BTC with ETH

BTC



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Investing Quote...

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Jesse Livermore


..“I buy on the assumption they could close the market the next day and not reopen it for five years” and “Much success can be attributed to inactivity. Most investors cannot resist the temptation to constantly buy and sell.”..

Warren Buffet


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Thomas Jefferson

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Mark Twain

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Warren Buffett




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